@PorterTravis08@RandoJLo@OhioTate@elonmusk@nikitabier Partnership = X money rents the banking relationship from another bank.
This model creates significant vulnerability because the bank has to rely on records from the fintech/processor chain
@DubDeezz@RandoJLo@OhioTate@elonmusk@nikitabier Finally someone that’s not retarded. It’s a FinTech partnership and not a charter so you won’t get your money back guaranteed. Synapse 2.0 incoming! 😂
@OhioTate@elonmusk@nikitabier It’s not a bank charter so that FDIC insurance is bullshit. Fintech partnerships will fuck you if they go under. The bank in the partnership doesn’t have to insure or payback your money. I had someone lose $200K in a similar structure. Don’t do it